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State guaranteed loans: towards an extension of the repayment period?



For a year, ByGalis, an event company, has been at a standstill. The offices of Saint-Thibault-des-Vignes (Seine-et-Marne), usually animated by the presence of a hundred employees, are empty. The company borrowed 1.8 million euros over five years via a PGE, a loan guaranteed by the State to pay expenses and employees. The government allows the company to start repaying a year later, but with larger monthly payments. She would prefer to extend her repayment term. “The EMP saved us first and today becomes a real trap “, believes Fabrice Laborde, president of ByGalis.

In France, 700,000 companies have borrowed for 130 billion euros via the PGE. Some people worry about not being able to repay. Aware of the problem, the Minister of VSEs and SMEs, Alain Griset, said Thursday February 4 to discuss with the European Commission “on an extension of the duration of reimbursements of EMPs “. The traders are asking for a period of eight years. Some of these EMPs could also be turned into grants, the economy ministry said.

The JT

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